HermannHesse
Short

GBPJPY Bearish Bat Pattern

FX:GBPJPY   British Pound/Japanese Yen
151 3 4
a year ago
The rally in GBPJPY             is going to reach the D point of a Bearish Bat Pattern .

1. Bat Pattern
2. RSI high
3. MACD 4C bullish to reach D


TP1 at .382 CD leg
TP2 at .618 CD leg
SL 1:1 with TP1

Advice: Take care trading GBP market this days due to the Thursday 5th Bank Of England meeting. If the market reaches point D before, perhaps it is good to wait for the resolution.
a year ago
Comment: Reached. Waiting for the consequences of the meeting.
a year ago
Trade active
Hi there! is the bat still valid today?
Reply
HermannHesse NicholasPrinsloo
a year ago
Hi man! Bat pattern strictly completes the first time that .886 fib CD leg is reached. Anyway you can always take advantage of a bullish momentum to get into a good position. The problem here is that it has already reached the TP1 so I would not recommend. Regards.
Reply
HermannHesse HermannHesse
a year ago
I mean .886 fib XA leg, of course.
Reply
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